Corte Madera advisory committee recommends $1M to capital fund, $200K to parks from 2024-25 surplus

Summary

The Town's Financial Advisory Committee voted to recommend that the town council transfer $1,000,000 to the town capital fund and $200,000 to the recreation capital fund from the preliminary 2024-25 surplus; members also asked staff to return with more detail on the Park Madera deficit and insurance/reserve strategy.

The Corte Madera Town Financial Advisory Committee voted to recommend that the town council move $1,000,000 from the general fund into the town capital fund and $200,000 into the recreation capital fund to help fund the five-year capital program and park projects.

Staff presented preliminary 2024-25 numbers, noting the audit is still in progress. "We have a $3,600,000 surplus before transfers," said Speaker 4, a finance staff member who presented the report, and after council-designated transfers he said the undesignated surplus available for recommendation was about $1,200,000. Staff explained the council had already set aside roughly $2.4 million in transfers earlier in the year for town capital, technology, wildfire mitigation and recreation capital.

Committee members pressed for clearer labeling of reserves and ending fund balances so the public can distinguish…

Corte Madera advisory committee recommends $1M to capital fund, $200K to parks from 2024-25 surplus

Summary

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